From corporate bailouts to austerity measures
Since 2008 the major capitalist powers have wantonly used public money to bail out the big banks and corporations, thus allowing these to show profits on their balance sheets and to conjure the false illusion of recovery in financial markets but in fact aggravating the economic crisis through the contraction of production and the loss […]
Analysis of the southeast Asian crisis of 1997
At the outset, let me make it clear that imperialism as overdeveloped and moribund capitalism and the Southeast Asian social economies as underdeveloped neo-colonial appendages of imperialism are both in chronic crisis. Thus, by the phrase Southeast Asian crisis of 1997, I refer to a new plunge, a new level of aggravation and deepening of […]
Imperialism, Fascisation and Fascism
Even when monopoly capitalism was becoming dominant in the most developed industrial capitalist countries from the 1870’s onward, the monopoly bourgeoisie trumpeted the doctrine of laissez faire. This had been the battlecry of the pre-monopoly bourgeoisie against state trading monopolies and regulations. By the last quarter of the century of the 19th century, the monopoly […]
The fatal course of imperialism and inevitability of socialism
I am happy to participate in an autopsy. “Neoliberalism” or “free market” globalization is practically dead. It has been killed by the current global recession. The economic policy-makers of monopoly capitalism have themselves declared that the disease could not be cured by the monetarist medicine prescribed by Dr. Milton Friedman. They say that the problem […]
Bankruptcy of imperialist globalization and urgency of the socialist cause
The October Revolution of 1917 remains significant and relevant. It brought about the first socialist state and society. It demonstrated the capability of the working class, in unison with the peasantry, to take power and build socialism in response to imperialist crisis and war. Lenin addressed the working people with the stirring call to turn […]
Accelerated destruction of productive forces
You hit the nail on the head when you speak of imperialist globalization. The monopoly capitalists, their political stooges in states and their reformist “civil society” apologists try to bamboozle people with the term “globalization” as if it were a brand-new fact of life that one cannot do anything about, except to adjust to it […]